Home heating oil costs less in Northern Ireland than rest of UK and Republic of Ireland...and prices are still falling
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On average, the cost of space and water heating for an average sized three-bedroom house using a condensing boiler, radiators and DHW cylinder in Northern Ireland is £1,190 per year, according to figures released by the Sutherland Tables.
The Sutherland Tables is an independent and impartial supplier of information on domestic heating costs and publishes information quarterly.
According to its research, Northern Ireland’s average liquid fuel costs are currently 7% less than the rest of the UK, where the average price of home heating oil for a similar three bed house is £1,279 per year.
And, households in Northern Ireland are paying considerably less for their home heating oil than homeowners in the RoI where average bills are 24% higher at £1,564 per year.
Welcoming these figures, the trade organisation for the liquid fuel heating industry in Ireland, OFTEC, has urged householders to maintain this value by ensuring their boilers are operating efficiently.
In addition to calling on householders to make any necessary repairs to their home heating system as soon as possible, OFTEC has called on householders to ensure their boilers are serviced annually.
OFTEC Ireland Manager, David Blevings said just like the regulated fuels, Northern Ireland’s liquid fuels (unregulated) are currently offering ‘great value’ to local consumers.
He said: “Despite the continued conflict in Gaza oil prices have not increased. Prices are actually falling. This is great news for the 68% of householders across Northern Ireland using oil as their primary source of heating, where prices, in comparison to Great Britain and the Republic of Ireland, represent cracking value.
“And, thanks to milder weather we have had throughout October and November and predictions of a modest global supply/demand surplus in 2024, oil prices may hold at a similar level throughout the winter.
“This is great news for consumers whose home heating system is running optimally. However, the potential caveat is that if the conflict in the Middle East continues and starts to extend into neighbouring countries prices may start to rise.”
“I would point out that an annual service, from an OFTEC registered technician, is essential to avoid problems further down the line and will help maximise central heating efficiency and ultimately, keep your heating bills as low as possible.
“Also, if your system needs repairs, we would also urge you to carry these out as soon as possible through an OFTEC registered technician so it can run at its optimal level.”